Optimal Payments acquires TK Global Partners and assets of Global Merchant Advisors

Optimal Payments Plc completed the acquisition of all of the partnership interests of California-based payment processing entity TK Global Partners LP (doing business as Meritus Payment Solutions) for consideration of US$210 million.

Meritus is a high growth and profitable organization in the payments processing industry that processes more than $3 billion in transaction volume annually.

Concurrently, Optimal Payments completed the acquisition of the assets of Global Merchant Advisors, Inc., a California-based online payments company, for up to US$15 million in cash. GMA is a fast growing payments company serving small to medium sized businesses with a focus primarily on segments of the market that have been underserved by larger payment processing competitors, offering small merchants “industrial grade” processing solutions.

The acquisitions were financed by a syndicate of lenders led by Bank of Montreal, as administrative agent, with US $150,000,000 senior secured facilities.

Optimal Payments is a global provider of online and mobile payment processing services to thousands of merchants and millions of consumers. The company moves billions of US dollars per year securely in and through over 200 countries and territories with over 100 types of payment and multi-currency options. Optimal Payments is quoted on the London Stock Exchange’s AIM, with a ticker symbol of OPAY.

Optimal Payments was represented in-house by Elliott Wiseman and Lana Rabinovitch, and by Stikeman Elliott LLP with a team that included Sidney Horn, Warren Katz, Adam Cieply, Timour Breslavski and Adam Plotkin (corporate) and Howard Rosenoff, Michael Dyck, Laura Salvati, Amy Nugent and Sarah Shapiro (financing). Optimal Payments was represented in the United Kingdom by Hogan Lovells LLP with a team that included Maegan Morrison, Andin Fonyonga and James Clarke (financing), in the United States by Paul Hastings LLP with a team that included Behnam Dayanim (regulatory), Stephen Harris (employment) and Peter Burke and Joanne Yang (financing) and in the Isle of Man by Cains with a team that included Andrew Baker and Matthew Quinn (financing).

Meritus and GMA were represented by Manatt, Phelps & Phillips LLP with a team that included Jordan Hamburger and Rory Donald (corporate).

Bank of Montreal was represented in Canada by Dentons Canada LLP with a team that included Joel Cabelli, Marie-Josée Couture, Robert De Guzmen and Robert Steinman (financing), Marc Lemieux (regulatory) and Richard Gauthier (tax), in the United Kingdom by Dentons UK LLP with a team that included Richard Garvan, Vanessa Salamony and Clare Spokes (financing) and in the United States by Dentons USA LLP by Doug Wingo (financing). Bank of Montreal was represented in the Isle of Man by Appleby with a team that included Faye Moffatt, Helen Jackson and Simon Cain (financing).

Firm(s)

Stikeman Elliott LLP Manatt, Phelps & Phillips, LLP Dentons Canada LLP